U.S. President Donald Trump is preparing to sign an executive order that will lift banking restrictions on cryptocurrency companies imposed under the Biden administration, according to media reports.
The order aims to dismantle regulatory barriers associated with “Operation Chokepoint 2.0,” a policy that critics argue was designed to limit banking access for crypto businesses. The move is expected to restore financial services for the digital asset sector, allowing firms to secure essential banking support.
According to Bo Hines, Executive Director of the Presidential Working Group on Digital Assets, the administration is committed to facilitating rapid progress for the industry. The order will also address Federal Reserve policies that have prevented crypto-focused banks, such as Custodia, from accessing master accounts—an essential requirement for direct transactions with the central bank.
In a notable shift, Senator Elizabeth Warren, a longtime crypto critic, has acknowledged the legitimacy of the “debanking” issue and expressed support for regulatory solutions.
If the final legal review concludes as expected this week, Trump’s signature could mark a significant shift in the banking landscape for cryptocurrency firms, potentially reshaping their access to financial infrastructure.
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